1. CUSTOMER SUCCESS
The importance of discovery
Organizations in heavily regulated industries such as financial services face regular
requests from management, regulators or counsel for large numbers of documents to be
discovered for assessment. These requests involve the difficult task of sorting through
thousands of documents looking for important, and often unknown, information in order
to make key strategic decisions.
One Canadian financial institution traditionally handled these requests using linear
review strategies. But with ongoing investigations, regulatory requests and litigation, and
year-over-year increases of unstructured data in the realm of 40 per cent, this was
creating significant challenges for the organization:
• Increased volumes and data complexity (emails, loose documents, social media, voice,
etc.) made manual review inefficient and cost prohibitive.
• Limited human and capital resources dedicated to electronic discovery were impacting
timelines and legal obligations.
• The inability to make immediate strategic decisions to pursue or settle disputes was
putting the organization in a high-risk position.
Canadian Financial Institution
Canadian Financial Institution Reduces Volume of Data to
Review by 95 Percent and Saves Nearly $1M with Symantec™
eDiscovery Platform through Commonwealth Legal Managed
Services Solution
ORGANIZATION PROFILE
Industry: Finance
Headquarters: Canada
Employees: 25,000+
KEY CHALLENGES
A leading Canadian Financial Institution needed
to streamline eDiscovery, minimize costs, and
enable more informed decision-making on
whether to pursue or settle disputes.
SOLUTION
The organization turned to Commonwealth
Legal, a division of RICOH Canada, which is
delivering Symantec eDiscovery Platform
powered by Clearwell as a managed service.
BENEFITS
• 95% reduction in amount of data to review
• Enhanced cost control for legal review
• Over 80% reduction in documents through
de-duplication
• Review by outside parties required for only
10% of original data set
• Almost $1 million in total savings
Facing 40 percent annual growth in unstructured data, A Canadian Financial
Institution wanted to streamline eDiscovery and minimize discovery costs.
It turned to Commonwealth Legal, a division of RICOH Canada, to deliver a
Symantec eDiscovery solution as a managed service. Results include a 95
percent reduction in the amount of data to review and almost $1 million in
total savings in a single case.
FPO
2. CUSTOMER SUCCESS | Canadian Financial Institution
Symantec provided a reusable licensing model
for its eDiscovery Platform that has allowed the
customer to achieve a full return on investment
within its first few investigations.
As one of the world’s largest and most innovative financial
institutions, this organization wanted to find a better way to
access data, align its existing business systems and processes,
and develop a more consistent and repeatable approach to
electronic discovery.
Turning to Commonwealth Legal for help
The organization decided to partner with Commonwealth Legal for
help in solving its business challenges. Because the customer
had limited internal resources available to support litigation
technology, and a complex procurement process, Commonwealth
Legal offered a turnkey model that would immediately support the
institution’s ability to manage the business process of eDiscovery
with little upfront capital investment.
After careful consideration of the financial institution’s existing
processes and challenges, Commonwealth Legal recommended
Symantec eDiscovery Platform powered by Clearwell, to be offered
as a hosted managed service.
Symantec eDiscovery Platform brings transparency and control to
the entire electronic discovery process, from legal hold to
collection across multiple sources, through to analytics, predictive
coding and production. All this is offered within a single, scalable
and cost-effective information management platform.
Simplifying the process
By taking advantage of Commonwealth Legal’s Managed Services,
the financial institution was able to:
• Implement the technology immediately without engaging in
the institution’s formal procurement process
• Host data within a scalable, Tier IV, ISO-Certified, Canadian-
based data centre
• Meet strict security and confidentiality requirements
• Leverage Commonwealth Legal’s Professional Services
team for the deployment and ongoing support required for
the technology
Using features in Symantec eDiscovery Platform such as
deduplication, filters, and transparent key word searches, this
financial institution is able to quickly identify potentially relevant
information, prioritize key documents, isolate privileged
materials, and set aside irrelevant ones. The result is a significant
reduction in the amount of data that requires review.
According to a Rand Study from 2012, legal review costs about
$18,000 per gigabyte on average. By reducing the amount of data
to be reviewed, Symantec eDiscovery Platform is delivering
immense cost savings.
Because of the fast growth of data and matters across all business
units at the financial institution, Symantec provided a reusable
licensing model for its eDiscovery Platform that has allowed the
customer to achieve a full return on investment within its first few
investigations. In addition, the solution’s scalability, advanced
features, and a technology-driven approach to review has
provided cost certainty from case inception to review and
production, despite the continuous growth of data year over year.
Symantec eDiscovery Platform powered by Clearwell has allowed
this financial institution to efficiently manage over 300 matters
since 2008.
SOLUTIONS
• Symantec eDiscovery Platform powered by Clearwell
PARTNER
• Commonwealth Legal, a division of RICOH Canada
(Symantec eDiscovery Expert Competency
www.commonwealthlegal.com)
